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Saturday, June 12, 2010

Crisis and employment

The UK job market has not been hit as hard by the economic crisis as
some expected. On the other hand the upturn in the US has mainly been
jobless. I think what has happened is that companies have streamlined
to increase productivity. In the UK people have been put on shorter
work rather than being fired. In the US firing is easier. This crisis
will exacerbate the underlying trend for unskilled jobs. We need a
educational revolution in the West not a scaling back as suggested by
the Lib Tory coalition, to save our society from further splitting
apart.

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